The Impact of the Repercussions of the Coronavirus on the Performance of Companies Listed on the Saudi Capital Market (Tadawul): An Applied Study on Industrial Companies
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February 24, 2021
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Coronavirus, Industrial Companies, Saudi Capital Market
Abstract
The study aimed to identify the impact of the coronavirus pandemic on the performance of the industrial companies listed in the Saudi capital market (Tadawul). The study population consisted of 58 companies that represented all industrial companies listed in the Saudi capital market (Tadawul): the basic materials sector, the energy sector, the food production sector, and the pharmaceutical sector during the period of the coronavirus crisis that started at the end of 2019. The descriptive analytical approach and secondary data were used in this study that was retrieved from companies’ reports. The results found that most Saudi industrial companies have been negatively affected by the coronavirus pandemic, and results showed that companies in the basic materials sector lost approximately 15%, and the profit per share decreased by 67%. The energy sector companies were most affected, whereas the rate of decline reached the net profit between 81% and 106%, while there was an increase in the loss rate in Petro Rabigh at 230% and a significant decrease in earnings per share in most companies. Furthermore, the results indicated an increase in the net profit of some companies in the food production sector that ranged between 7% and 1314%. The main recommendations of the study were that industrial companies should set effective plans for supply chains, reconsider insurance contracts and leases, have effective risk, financial plans, and policies, and manage their liquidity to keep continuity of their activities during the pandemic and in the future.
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